Title Insurance, Required Reserves

  1. Law
  2. Georgia Code
  3. Insurance
  4. Assets and Liabilities
  5. Title Insurance, Required Reserves

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In addition to an adequate reserve as to outstanding losses as required under Code Section 33-10-5, a title insurer shall maintain a guaranty fund or unearned premium reserve of not less than an amount computed as follows:

  1. Ten percent of the total amount of the risk premiums written in the calendar year for title insurance contracts shall be assigned originally to the reserve; and
  2. During each of the 20 years next following the year in which the title insurance contract was issued, the reserve applicable to the contract may be reduced by 5 percent of the original amount of the reserve.

(Code 1933, § 56-911, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-58/SB 132.)

The 2019 amendment, effective July 1, 2019, deleted "hereafter" following "risk premiums" in paragraph (1).

Cross references.

- Definition of title insurance, § 33-7-8.


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